Canadian junior miner Kennady Diamonds whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, has completed the bulk sampling program on the Faraday 2 pipe with approximately 265 tons of kimberlite collected from 29 large diameter drill holes. The two reverse circulation drill rigs are now focused on the nearby Faraday 3 kimberlite and have commenced drilling with the target of collecting a 300 ton sample from this pipe. Kennady Diamonds President and CEO, Dr. Rory Moore stated: “We are delighted to have achieved our target tonnage on the Faraday 2 kimberlite on-schedule despite weather related challenges that the field crews have faced. The transition to drilling the Faraday 3 kimberlite has proceeded smoothly with the first two drill holes completed within 24 hours of moving onto the kimberlite.”
The Faraday 2 bulk sample will now be transported to Saskatoon to be processed by dense media separation at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council. They plan to recover approximately 575 tons of kimberlite from the Faraday kimberlites during the 2017 winter program, including the 265 tons recovered from Faraday 2, 300 tonnes from the Faraday 3 and approximately 10 tons from Faraday 1. The objective of this program is to advance the Faraday 2 and 3 kimberlites to an inferred resource status and advance the Faraday 1 kimberlite to a Target for Further Exploration. It is anticipated that diamonds weighing more than 1,000 carats will be recovered from the bulk samples and the diamond parcel will be used for revenue modeling of the Faraday 2 and 3 kimberlites. Diamonds recovered from the Faraday 1 mini-bulk sample will be used to correlate diamond grade and quality potential with the nearby Faraday 3 kimberlite. The bulk sampling program is expected to be completed in early Q2 of 2017.
Kennady Diamonds aims to identify a resource along the Kelvin – Faraday kimberlite corridor of between 13 million and 16 million tonnes at a grade of between 2 and 2.5 carats per tonne and also to identify new kimberlites outside of the corridor. The Kelvin – Faraday corridor is a target for further exploration. Tonnage estimates are based on the drilling completed to date. The potential quantity is conceptual in nature as there has been insufficient drilling to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.